ARTICLE · 18 NOVEMBER 2024

Crypto Policy Outlook In The Trump Administration

Brownstein Hyatt Farber Schreck

Explore more from Brownstein Hyatt Farber Schreck

During the 2024 campaign, President-elect Donald Trump took significant steps to embrace digital assets and the industry that has developed around them...

United StatesFinance and Banking

Leah C. Dempsey

Emily R. Garnett

Zachary S. Pfister

Robert Robilliard

Annmarie Conboy-DePasquale

Joel L. Herberman

During the 2024 campaign, President-elect Donald Trump took significant steps to embrace digital assets and the industry that has developed around them, positioning himself as a champion of crypto. In a speech delivered at the annual Bitcoin Conference in Nashville, Tennessee, the Republican nominee promised to suspend sales of U.S. government bitcoin holdings and to fire current Securities and Exchange Commission (SEC) Chairman Gary Gensler on day one of his administration.

The promise to remove Gensler as chairman of the SEC is notable because during the Biden administration, enforcement actions carried out by the commission have presented perhaps the largest regulatory burden faced by the digital asset industry. Since the SEC brought its first enforcement action related to digital assets in 2015, the commission has pursued over 170 legal actions in the space. Over half of those enforcement actions have been carried out since Gensler was sworn in as chairman.

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